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Creative Portico targets to open 100 shop-in-shops by '11

26
Dec '09
Creative Portico, a leading home textile player intends to open 100 shop-in-shop outlets and 20 Exclusive Brand Outlets (EBOs), by the year 2011, in a bid to acquire market share from the bed-and-bath segment which is currently growing at 20 percent, informed Mr. Chandan S, Senior General Manager (Retail and Marketing).

The company already has 170 shop-in-shops across the country. It launched its first EBO, 'Portico New York' in suburban Bandra, Mumbai. Now, the company plans to penetrate Tier-II cities in next 2 to 3 years and open 4-5 flagship stores in major metros.

Creative Portico would invest around Rs. 2 million on each EBO. The company, which is witnessing 50 percent year-on-year increase in sales, has a 10 percent share in the growing bed-and-bath market of Rs 9 billion. It aims to touch Rs. 950 million in sales in this financial year compared to Rs. 650 million in fiscal 2008-9.

The company, which is the wholly-owned subsidiary of leading garment exporter Creative Group, deals in regular range, kids range and has recently, started promoting healthy living through its Therapia range of products, which range between Rs 600 to 10,000. This range has products including i-bedding (treated with negative ion technology), soya bean quilts (natural fibre duvet), anti-mite and bite pillows and eco-pillows.

Fibre2fashion News Desk - India


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